The resident economic entities and population bought over USD 2.0 billion of foreign currency in March. As compared to February, the volume of purchase increased by USD 400 million or almost 25.0% according to the data of the National Bank.
The increased demand of the enterprises for currency can be caused by the growth in business activity and the necessity to increase the expenses on purchase of imported goods and component parts. The demand growth can be connected with the servicing of currency credits. According to the data of the Regulator, the resident economic entities bought USD 1,587.3 million of currency in the equivalent last month. As compared to February, the volume of purchase grew by almost 30.0%. The volume of currency sold by the enterprises over March rose by 24.4% to USD 1,522.3 million. The balance of net purchase totaled USD 65.0 million.
Over Q1 this year, the resident economic entities remained the net currency buyers. The total volume of purchase amounted to USD 4,108.3 million. It is 13.5% more than in January-March 2016 года. The volume of currency sold over the mentioned period grew by 16.4% and made up USD 4,025.0 million.
The total volume of currency transactions of the resident legal entities over three months amounted to USD 8,133.3 million, having increased as compared to Q1 last year by almost 15.0%.
The population last month bought USD 358.0 million of cash currency, which is 11.5% more than in February. It is the highest volume of purchase in Q1. The demand for currency can be partially connected with the real wages growth resumption. According to the official statistics, the real wages in February rose by 0.8% as compared to the same month last year. The depositors, who considered that it would be more profitable to convert the ruble deposits, the rates on which continued falling, into the currency to buy the imported goods abroad, could become active in the currency market.
At the same time, the volume of sale of cash currency by the population grew in March. Over the last month, the individuals sold over USD 600.0 million in the equivalent. This turnover was registered in September last year for the last time. The individuals sold over USD 575.0 million in the equivalent in the following months.
The growth in sale of cash currency shows that the income of the part of the population does not allow maintaining the required level of life as well as settling for the required goods and services to the fullest extent. The currency sale allows covering the resource shortage. The temporary unemployment of the citizens can influence the dynamics of currency sale, too.
Last month, the individuals bought USD 114.6 million of non-cash currency and sold USD 78.9 million. The volume of purchase grew by almost 12.0%, the volume of sale – by 9.0%.
Over Q1, the population bought USD 1.3 billion. As compared to the same period of 2016, the volume of purchase fell by USD 172.8 million or 11.5%. The volume of sold currency over three months increased by almost USD 180.0 million or 11.0%, totaling USD 1.8 billion. Therefore, the population remained the net seller of currency.
Over January-March, the resident enterprises and population purchased and sold USD 11,290.2 million in the equivalent in the domestic market. The total volume of the purchased currency equaled to USD 5,436.6 million, the volume of sold one – to USD 5,853.6 million. The net sale of foreign currency by the mentioned segments of the currency market amounted to USD 417.0 million.